Credo Technology Group Holding Ltd. $CRDO Shares Sold by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC has reduced its stake in Credo Technology Group by 39.0%, owning 10,790 shares valued at approximately $433,000 following a sale of 6,910 shares.
• Analysts' ratings for Credo Technology Group vary, with target price increases from Needham & Company and Stifel Nicolaus, with an average target price currently at $92.64.
• The company's latest earnings revealed a 273.6% increase in revenue year-over-year, although it posted an EPS of $0.34, falling short of the analysts' expectations of $0.36.

Bosun Asset Management LLC decreased its stake in shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Free Report) by 39.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,790 shares of the company's stock after selling 6,910 shares during the quarter. Bosun Asset Management LLC's holdings in Credo Technology Group were worth $433,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Credo Technology Group during the first quarter valued at $52,636,000. Polar Capital Holdings Plc grew its holdings in Credo Technology Group by 382.1% during the fourth quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company's stock valued at $97,527,000 after purchasing an additional 1,150,084 shares during the period. Candriam S.C.A. bought a new position in shares of Credo Technology Group in the first quarter worth about $29,258,000. Bank of America Corp DE boosted its stake in shares of Credo Technology Group by 281.7% in the fourth quarter. Bank of America Corp DE now owns 391,446 shares of the company's stock worth $26,309,000 after acquiring an additional 606,850 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of Credo Technology Group in the first quarter worth about $24,329,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Insider Buying and Selling

In other Credo Technology Group news, CEO William Joseph Brennan sold 46,444 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $4,963,470.28. Following the completion of the transaction, the chief executive officer owned 393,338 shares in the company, valued at $42,036,032.06. This represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the completion of the transaction, the chief technology officer owned 7,108,961 shares of the company's stock, valued at $761,511,902.32. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,068,654 shares of company stock worth $97,805,783 over the last ninety days. Insiders own 11.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CRDO shares. Susquehanna upped their price objective on Credo Technology Group from $115.00 to $165.00 and gave the company a "positive" rating in a research report on Thursday. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a research report on Thursday. Mizuho raised their price objective on Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research report on Thursday. Roth Capital raised their target price on Credo Technology Group from $95.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Needham & Company LLC lifted their price objective on Credo Technology Group from $85.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company's stock. According to MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and an average price target of $126.27.

Credo Technology Group Price Performance

CRDO traded up $6.69 during trading hours on Monday, reaching $147.51. The company's stock had a trading volume of 7,055,563 shares, compared to its average volume of 5,260,844. The business's 50-day moving average is $109.39 and its 200-day moving average is $73.90. Credo Technology Group Holding Ltd. has a fifty-two week low of $24.24 and a fifty-two week high of $149.08. The stock has a market cap of $25.52 billion, a PE ratio of 220.16 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter last year, the company earned $0.04 earnings per share. The firm's revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.